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Savannah and European Steam Line.

--In pursuance of an act of the Georgia Legislature, for the encouragement of direct trade between Savannah and Antwerp, the Hon. Thomas Butler King was sent abroad as the Commissioner of the State, to examine into the solvency and character of the Antwerp contractors, the quality of their fleet, &c., &c., and, should proper exhibits be made, to close the contract on the part of the State.--The Savannah Republican says:

Mr. King set out for Europe some two or three months ago, and has been devoting himself assiduously to the objects of his mission since the day of his arrival. Official particulars of his proceedings have not transpired, if they have been received, though we observe in the Atlanta Intelligencer of a recent date, an extract of a letter from Brussels, giving a highly favorable account of his progress. The indications then were most auspicious of a satisfactory accomplishment of the object in view, though it is intimated that, for special reasons, Mr. King would probably transfer his negotiations from Antwerp to Paris. It is also suggested that, in the event of the success of these latter negotiations, the line of steamers will probably run from Havre, or some other French port, to Savannah and thence to New Orleans.

’ This change the Republican regards as judicious, and concludes its editorial as follows:

‘ As regards apprehensions based on the existence of a hostile blockade of our coast, for the purpose of prohibiting commerce, we may add that intelligent and well informed sources have assurances that dispel all uneasiness on the subject. The United States have boldly proclaimed to the nations, as her settled policy, that she will respect no blockade designed for the interruption of commerce and not for the reduction of a seaport town, nor one which does not "completely invest" a town, "by land as well as by sea."

The nations of Europe have resolved to hold her to the position, and that resolution they will carry into effect. Both justice and interest prompt them to such a course.

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